ICICI Securities: Cummins India -Healthy Growth And Operational Margins
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ICICI Securities Report
Cummins India Ltd.’s reported better than expected growth in both domestic and export markets despite headwinds.
Company is confident of sustenance of growth and expects gradual normalisation in the domestic market.
Export segment too is expected to gradually tread towards normalisation; however, uncertainty regarding a second wave of the pandemic and resultant lockdown is a risk.
Though near-term execution is expected to be volatile, we believe, focus on cashflow, leadership in technology and gradual recovery in export markets augur well for long-term growth.
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